Ana Maria is an artisan who specializes in decoupage home accents, including boxes, wall decor, and trays. She would like to invest in the purchase of raw materials, such as pinewood, iron fixtures, and prints. To expand production she would also like to offer jobs to other artisans.
Ana Maria has been selling through NOVICA since 2004. This is her story:
"For as long as I can remember, I've been around arts and crafts. My whole family produced something and, when we'd visit our relatives, my cousins and I would make something for fun. After I married, my husband and I created various kinds of handicrafts. I began making decorative boxes, painted by hand with different finishes. Today I create boxes with classic motifs and an antique feel."
"Thank you for supporting small business artisans like me through interest-free microcredits, but, more than anything, thank you for your faith in me."
Novica is an e-commerce website that allows artisans around the world to sell unique, high-quality goods directly to consumers. It also offers small loans to help artisans in the developing world start and grow their businesses. It’s possible to buy goods created by the artisans you help fund on the Novica website.
Repayments on Novica loans are tied to artisan revenue. This means that if an artisan has a good month, they will pay back more -- or less during slower months. To accommodate this, all repayments on this loan are due at the end of the loan term. Any repayments received before this deadline will be considered pre-payments, but will still be distributed to lenders as usual.
Because Novica is not a microfinance institution, Kiva’s risk rating system is not applicable. Kiva has conducted onsite due diligence, and Kiva’s Investment Committee approved the organization as a partner. Novica offers artisans loans at 0% interest.